'No Lip Service': Erick Thohir Vows to Beef Up Startup Ecosystem

jpnn.com, JAKARTA - State-Owned Enterprises Minister Erick Thohir has vowed to beef up Indonesian startup ecosystem by opening up bigger opportunities.

"The government is here. I ensure that SOEs will build an ecosystem for startup actors," said Erick.

One initiative the government has presented in relation to this is the Merah Putih (Red and White) Fund program.

The Merah Putih Fund aims to accelerate local startups that have the potential to become unicorns.

The focus of the program is to generate synergies among various industrial sectors.

In addition, the Merah Putih Fund will invest in Indonesian startups that will go public in Indonesia.

"It's no lip service. The President has launched it," he said. "So, if you want to build a startup, don't be doubtful."

The government also provides assistance to local products or brands through the Sembrani Fund.